Death is a very difficult time not only in terms of grieving but in knowing what steps need to be taken from registering the death to dealing with the person’s assets.
Many questions are raised and it can be difficult to know where to begin.
- How is the funeral paid for?
- What happens if there is a post mortem?
- Can joint accounts still be used?
- How are bills paid for?
- Who do we need to inform of the death?
- Is there a Will? Where is the Will? What happens if there is no Will?
- Do we need a solicitor?
- What about inheritance tax?
Although there is no prescribed way in which an estate should be dealt with the first consideration ought to be the deceased person’s home and possessions and it is the responsibility of the executor to ensure that the house and belongings are safe and secure. The other immediate concerns are ensuring that the death is registered and the funeral is arranged.
The property and possessions should not only be secured for safety but also because such items will need to be valued even if there is not any inheritance tax to pay.
The death should be registered as soon as practically possible and the death certificate will be required for us to be able to discuss the contents of the Will and also to notify all asset holders. If you are unsure of who is able to register the death you can discuss this with us or with your local registrar. We can also provide you with details of the information you will need in order to register the death and it is important to ensure that you obtain sufficient copies of the death certificate at the time of registration. If there is a coroner involved following the death then an interim death certificate will be issued by the coroner.
Once the death has been registered we can confirm whether we hold a Will or assist you in locating the Will. If there is no Will we will discuss the intestacy process with you. The Will confirms the executors of the estate and the executors will be the person(s) with whom we can discuss matters going forward.
In order to administer the estate and distribute the assets in accordance with the Will or the intestacy laws the first step is to gather information of all of the assets and liabilities of the estate. The estates assets have to be reported to H M Revenue and Customs and any inheritance tax due has to be paid within a set time following the death. The Grant of Probate will also need to be applied for in most circumstances and once this has been obtained the assets can be collected and distributed.
The executors are ultimately responsible for administering the estate. There are many advantages of instructing solicitors in this complex process. Nalders can provide you a high class service to take the responsibility form you and ensure that the estate is administered correctly. Please contact us for a chat today.